Old Dominion Freight Line (NASDAQ:ODFL) PT Raised to $205.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price hoisted by equities researchers at UBS Group from $202.00 to $205.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price indicates a potential upside of 12.38% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Susquehanna upped their price target on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research report on Thursday, February 8th. Evercore ISI dropped their price objective on Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday. The Goldman Sachs Group boosted their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Barclays dropped their price target on Old Dominion Freight Line to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. cut their price objective on Old Dominion Freight Line from $233.00 to $231.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $210.97.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $182.42 on Thursday. Old Dominion Freight Line has a 1 year low of $147.90 and a 1 year high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. The stock’s fifty day moving average price is $220.06 and its two-hundred day moving average price is $206.41. The firm has a market cap of $39.71 billion, a PE ratio of 32.12, a PEG ratio of 3.07 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, equities research analysts forecast that Old Dominion Freight Line will post 6.16 EPS for the current year.

Insider Activity

In related news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the sale, the director now directly owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Old Dominion Freight Line by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after purchasing an additional 81,122 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Old Dominion Freight Line by 94.6% in the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after acquiring an additional 2,888,205 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Old Dominion Freight Line by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock valued at $1,038,597,000 after acquiring an additional 251,289 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Old Dominion Freight Line by 0.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock worth $851,971,000 after purchasing an additional 12,016 shares in the last quarter. Finally, WCM Investment Management LLC increased its position in Old Dominion Freight Line by 95.9% during the first quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock valued at $435,593,000 after acquiring an additional 972,531 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.